7. A corporation issued $2,000,000 of 20-year bonds for cash at 98. How would the transaction be...

7. A corporation issued $2,000,000 of 20-year bonds for cash at 98. How would the transaction be re- ported on the statement of cash flows?

8. Fully depreciated equipment costing $50,000 was discarded. What was the effect of the transaction on cash flows if (a) $15,000 cash is received for the equipment, (b) no cash is received for the equipment?

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